HomeMy WebLinkAbout12 QUARTERLY INV. RPT. 01-19-98?
AGENDA
NO. 12
1-19-98
I nter L ,''
January 14, 1998
DATE:
TO:
FROM'
SUBJECT:
Honorable Mayor anQ Members of the City Council
G. W. Jeffries, Treasurer
QUARTERLY INVESTMENT REPORT
RECOMMENDATION:
Receive and file.
DISCUSSION:
In compliance with Government Code Section 53646, the attached
Investment Report for the quarter ending December 31, 1997 is
rendered.
ret
GWJ:ts
Attachment
GWJ: I nvQt r98. Jan
[ CC ~F TUSI/N INVES73~NTRE' 'T ' ' I
CITY INVESTMENT REPORT
QUARTER ENDI3qG DECElVlBER 31,1997
(4.0%) Fexteral Agencies
(29.2%) Cash with Fiscal Agents
(14.6%) Deferred Compensation
(19.2%) Treasm-y Bills/Notes
(4.4%) Cash
(28.6%) ~F
TOTAL CITY DqVESTED: $62,206,437
RDA INVESTMENT REPORT
QUARTER ENDING DECEMBER 31,1997
(78~5o/o) LAIF
(2.3%) Federal Agencie~
.[.../ (13.8o/o) Corporate Notes
· (5.0%) Cash with Fiscal Agent~
(0.3%) Cash
TOTAL RDA INVESTED: $21,828,358
~' ':Y OF TUSTIN INVESTMit ) REPORT
SUMMARY
QUARTER ENDING
DECEMBER 31,1997
(Unaudited)
DESCRIPTION
CITY OF TUSTIN:
Time Deposits
Negotiable Certificates of Deposit
Commercial Paper
Ban kers Acce ptanc es
Corporate Notes
Federal Agencies
U. S. Treasuries
Cash
Deferred Compensation *
Cash with Fiscal Agents *
Local Agency Investment Fund
Allowable Original
Maximum Portion of Purchase
Maturity Portfolio Total
5 yrs No Limit $0
5 yrs 10% $0
90 days 25% $0
18o days 25% $0
5 yrs 10% $0
5 yrs 50% $2,530,000
5 yrs No Limit $5,993,160
N/A N/A $2,728,529
N/A N/A $9,074,548
N/A N/A $18,192,818
N/A N/A $17,782,444
Current Current
Book Market Current
Value Value Concentration
$0 $0 0.00%
$0 $0 O.OO%
$0 $0 0.0O%
$0 $0 O.0O%
$0 $0 0.00%
$2,509,910 $2,477,650 4.46%
$5,993,160 $6,015,000 10.65%
$2,728,529 $2,728,529 4.85%
$9,074,548 $9,074,548 16.12%
$18,192,818 $18,192,818 32.32%
$17,782,444 $17,917,032 31.60%
$56,301,499 $56,281,409 $56,405,577 100.00%
PERFORMANCE MEASUREMENT:
Average CITY Portfolio Life (Years): 0.70
Average Portfolio Yield: 6.50%
Current 6 mo Treasur~, Bill: 5.50%
TUSTIN REDEVELOPMENT AGENCY:
Time Deposits 5 yrs No Limit
Negotiable CertificateS of Deposit 5 yrs 10%
Commercial Paper 90 days 25%
Bankers Acceptances 180 days 25%
Corporate Notes 5 yrs 10%
Federal Agencies 5 yrs 50%
U. S. Treasuries 5 yrs No Limit
Cash N/A N/A
Deferred Compensation * N/A N/A
Cash with Fiscal Agents * · N/A N/A
Local Agency Investment Fund N/A N/A
$0 $0 $0 0.00%
$0 $0 $0 o.oo%
$0 $0 $0 0.OO%
$0 $0 $0 0.0O%
$3,035,860 $3,010,758 $2,988,350 13.7g%
$515,048 $504,460 $502,650 2.31%
$0 $0 $0 0.O0%
$68,294 $68,294 $68,294 0.31%
$0 $0 $0 0.00%
$1,1 01,689 $1,1 01,689 $1,1 01,689 5.05%
$17,143,157 $17,143,157 $17,272,907 78.54%
$21,864,048 $21,828,358 $21,933,8g0 100.00%
PERFORMANCE MEASUREMENT:
Average RDA Portfolio Life (Years): 0.97
Average Portfolio Yield: 5.94%
1 Current 6 mo Treasur~, Bill: 5.50%
TOTAL CITY/RDAINVESTMENTS: $78,109,767 $78,339,467
Deferred Compensation and Cash with Fiscal Agents are non-discretionary funds nominally managed by the Treasurer.
Deferred Compensation is the pre-tax deferral of employees' .salary within the restrictions of IRS Code 457. The deferrals are
self-directed by the employees and are recorded as a liability of the City.
Cash with Fiscal Agents is the reserve funds and construction funds held by Trustees for various City and RDA bond issues.
Investment options are limited to those specifically permitted by bond documents.
Total City funds available for effective active management are: $49,740,712
OF TUSTIN INVESTMEN.
5PORT
(1)
DESCRIPTION -LIMITS
QUARTERLY
INVESTMENT SCHEDULE AS OF:
DECEMBER 31,1997
UNAUDITED
(2) (3) (4)
YIELD ORIGINAL CURRENT CURRENT
TO PURCHASE MATURITY PURCHASE BOOK MARKET
MATURITY DATE DATE PRICE VALUE VALUE
Time Deposits-No Limit
I Ne~. Certificate of De[~3sit-10%,Max 5 yrs ~
Commercial Pa~3er-25%, Max 90 Days
Bankers Acce~3tances-25%, Max 180Da~ I=
Current Total:I $0/ $0
Current Total:I $0/ $0
Current Total:. l $0 ~ $0
Current Total: [- $0 ~ $0
(5)
Corporate Notes- 10% ~
Current Total:I $0 j $0
Federal A~encies-50%
Federal Home Loan Bank FRN
Federal Home Loan Bank FRN (6)
Tennessee Valley Authority (AAA/AAA)
' US Treasuries-No Limit
Treasury Bill
Treasury Bill
Treasury Note
Treasury Note
Treasury Note
Dail~/-No Limit
Cash
Deferred Compensation
Deposits with Fiscal Agents-'93 Water COP's
Deposits with Fiscal Agents-Assess. Dist.
Deposits with Fiscal Agents-Co.Wide Fin Auth
Cash with 'I'CA Trustee
Local Agency Investment Fund
* December 31 balances were not available
at the time this report was prepared.
Numbers reflect the most current balances
as of November 30, 1997.
2.03%
2.39%
5.24%
09/29/93
10/21/93
02/03/94
03/23/98
05/07/98
08/01/99
(8)
$1,507,500 $1,502,502 $1,481,250
$502,500 $500,000 $493,750
$520,000 $507,408 $502,650
5.14%
5.16%
5.98%
6.27%
5.92%
10/30/97
12/09/97
01/31/97
03/31/97
07/31/97
01/29/98
03/05/98
01/31/99
03/31/99
07/31/99
Current Total: $2,509,910 $2,477,650
4.03% i
(8)
$2,962,008 $2,962,008 $2,962,440
$2,963,020 $2,963,020 $2,961,673
$1,995,940 $1,995,940 $2,001,880
$1,999,260 $1,999,260 $2,011,880
$1,997,960 $1,997,960 $2,001,240
Current Total: $11,918,188 $11,939,113
(8) ! 19.16% k
4.35% (7)
N/A (9)*
N/A (10)*
N/A (10)*
N/A (10)*
4.70% (6)*
5.71% (11)*
Current Total:
$2,728,529 $2,728,529
$9,074,548 $9,074,548
$810,810 $810,810
$8,926,251 $8,926,251
$2,461,804 $2,461,804
$5,993,953 $5,993,953
$17,782,444 $17,917,032
$47,778,339 $47,912,927
l. 76.81% k
TOTAL CITY INVESTMENTS
$62.206.437 $62.329.690
PERFORMANCE MEASUREMENT;
Average Portfolio Life (Years): 0.70
Average Portfolio Yie Id: 5.56%
Current 12 mo. Treasur~ Bill: 5.50%
I REDEV.
)PMENT AGENCY INVE$
5NT REPORT
(1)
DESCRIPTION -LIMITS
QUARTERLY
INVESTMENT SCHEDULE AS OF:
DECEMBER 31,1997
UNAUDITED
(2) (3) (4)
YIELD ORIGINAL CURRENT CURRENT
TO PURCHASE MATURITY PURCHASE BOOK MARKET
MATURITY DATE DATE AMOUNT VALUE VALUE
Time De~3osits-No Limit
[ Ne~. Certificate of De[x~sit-10%,Max 5 yrs
[. Commercial Pa[~er-25%[ Max 90 Da~s
I Bankers Acceptances-25%r Max 180Days
(5)
Cor~9orate Notes- 10%
Franklin Universal Trust- (AAA/AAA)
GE Capital- (AANAAA)
! Federal A~encies-50% /
Tennessee Valley Authority (AAA/AAA)
[ US Treasur~, Bills/Bonds/Notes-No Limit
Dail~/-No Limit
RDA Cash
Deposits w/Fiscal Agent-Tax Allocation Bds
Local Agency Investment Fund
* December 31 balances were not available
at the time this report was prepared.
Numbers reflect the most current balances
as of November 30, 1997.
Current Total: I $0 ~
Current Total: I $0 ~
Current Total: I $0/
Current Total: [ $0/
4.94% 09/14/93 09/01/98 $1,029,800 $1,00~,940 $998,110
5.19% 11/18/93 11/18/98 $2,006,060 $2,001,818 $1,990,240
Current Total: $3,010,758 $2,988,350
(8)! 13.79% ~
5.60% 02/18/94 08/01/99 $515,048 $504,460 $502,650
Current Total: $504,460 $502,650
(8) [ 2.31% ~1
Current Total: $0 $0
4.35% (7) $68,294 $68,294
N/A (10) $1,101,689 $1,101,689
5.71% (11)* $17,143,157 $17,272,907
Current Total:
TOTAL RDA INVESTMENTS
$21,828,358 $21,933,890
PERFORMANCE MEASUREMENT: I
Average Portfolio Life (Years): 0.97
Ave rage Portfolio Yie Id: 5.94%
Current 12 mo. Treasur~/Bill: 5.50%
TOTAL CITY/RDA INVESTMENTS: $84,034,795 $84,263,580
FOOTNOTES:
(1) DESCRIPTION-LIMITS reflects the various authorized investments as documented in the most current adopted
investment polcy and the allowable percentage of total portfolio per investment type.
(2) Original Purchase Price is the amount paid for a securities less any discourt plus any premium.
(3) Current Book Value is original cost of secuities less receipt of principal payments, net of amortized premiums/discourts.
FOOTNOTES: (Cont)
(4) Current Market Value isthe price at which securities are currently trading. Current market values are provided by
Bank of America and Bank of New York on all securities held in safekeeping for the City and RDA. Differences in
value are booked only if the securities are sold prior to their maturities.
(5) In compliance with Section II, paragraph f. of the City's Investment Policy, Corporate Notes must have a Moody's/Standard
and Poors's long term debt rating of at least AA.
(6) Securities held in Trust per Funding Agreement between the City of Tustin and the Foothill/Eastern
Transportation Corridor Agency adopted by the City Council on 6-5-95.
(7) Earnings allowance on compensating bank balances to offset bank activity charges. Allowance is not included in the
Average Yield calculation.
(6) Current percentage by investment type to be measured against allowable limits in current investment policy.
(9) IRS code Section 457 employee deferrals held by the City for future benefit of employees.
(10) Investments and earnings on monies held by fiscal agents generally are limited as to type and yield by the bond
documents or current IRS codes.
(11) The carrying amount of the pool as of November 30,1997 was $27,284,602,981 and the estimated market value '
(including accrued interest) was $27,491,1 09,735. The City and Agency's proportionate share of that value is $35,189,939.
CERTIFICATION:
I certify that this report reflects all City and RDA pooled investments. The investments represented in this report are in
conformity with the current adopted investment policy of the City of Tustin. The market values represented in this report are
provided by Trustees currently holding securities for the City and Agency.
The investment program herein shown provides sufficent cash flow liquidity to meet the next six (6) months estimated
expenditures.
This statement is prepared in conformance with Section 53646 of the Government Code.
~ W. Jeffries, T,r~a~s~er